Courtesy of Chris Kimble.
Are all S&P 500 Indices/ETF’s built exactly the same and pattern identical? Nope!
This 3-packs looks at the S&P 500 Total return index, the S&P 500 cap weighted index (SPY) and the S&P 500 equal weight ETF (RSP).
All three look to be experiencing important breakout tests at this time.
The Total return index starts out the week testing breaking levels of last years highs at (1). The S&P 500 Cap Weight and S&P 500 equal weight are testing last years highs at each (2), as resistance.
Stock bulls would love to see all three take out last years highs. What would concern stock bulls? If all three start experiencing selling pressure at last years highs.
Keep a close eye on the S&P here friends, as the Dumb Money indicator is at the highest level in more than 10-years!
–
To become a member of Kimble Charting Solutions, click here.
